BE IT RESOLVED,
that the proper city officials are authorized to execute and implement
the contract on file with the city clerk as Public Document No. __________
(or a similar one with insubstantial corrections of form or clerical error),
which contract creates an endowment fund which will distribute its earnings
to the city to help fund projects with a public purpose.

STATEMENT
OF PURPOSE: This resolution authorizes establishment of an
endowment fund administered by the Duluth-Superior Area Community Foundation.
Donors, which could include the city, donate to the fund. The fund will
produce earnings. A committee of seven is appointed by the mayor and approved
by the council. This committee determines which projects will receive
distributions of earnings.